Insurance Awareness Quiz for LIC AAO- Set 19

Insurance Awareness Quiz: We have created quiz questions on Insurance Awareness which are most important for insurance exams. These questions and answers will guide you in all insurance exams like LIC (AAO/ADO), NIACL assistant and AO, UIIC, IRDA and other Bank PO exams and all competitive exams. So attempt these multiple choice questions now based on the exam pattern syllabus.

1. The Aviva Life Insurance is a joint venture between the Aviva International Holding Limited and ___________
   A) Tata Group
   B) Corporation Bank
   C) Dabur Invest Corp
   D) Reliance Capital
   
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   Option C
   
2. The Insurance Marketing Firm (IMF) was set up by IRDA as distribution channel upon the recommendation of which committee?
   A) Randip Singh Jagpal Committee
   B) NM Govardhan Committee
   C) V Badrinarayanan Committee
   D) Prashant Mudgil Committee
   
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   Option B
   
3. What is the shareholding of LIC in the total paid-up equity share capital of the IDBI Bank?
   A) 51%
   B) 49%
   C) 46.46%
   D) 58%
   
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   Option A
   Explanation: LIC Holds 51% stake in IDBI, Government holds 46.46% stake and the remaining 2.54% is held by the public
4. The maximum number of Managing Directors that can be appointed in the Life Insurance Corporation of India (LIC) is _____________
   A) 1
   B) 2
   C) 3
   D) 4
   
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   Option D
   Explanation: M.R. Kumar has been appointed as the new Chairman of Life Insurance Corporation of India (LIC). 
5. Name the first insurance company in India to launch the Bank Locker Protector Policy
   A) Reliance General Insurance
   B) HDFC ERGO General Insurance
   C) IFFCO Tokio General Insurance
   D) United India Insurance
   
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   Option C
   Explanation: The policy offers seven options of sum insured ranging from Rs 3 lakh to Rs 40 lakh and above.
6. The first general insurance company in India to receive dual certifications of ISO 9001:2008 and ISO 27001:2005 in the first year of its operation is___________
   A) Future Generali India Insurance
   B) Bharti AXA General Insurance
   C) Cholamandalam MS General Insurance
   D) Tata AIG General Insurance
   
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   Option B
   
7. The SBI Life Insurance has entered into one of the biggest bancassurance pact with which bank in the year 2019, to sell its policies through bank branches?
   A) Punjab National Bank
   B) Allahabad Bank
   C) Syndicate Bank
   D) Corporation Bank
   
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   Option B
   
8. The Times Group has joint venture in which of the following insurance companies?
   A) Aegon Life Insurance Company
   B) Shriram Life Insurance Company
   C) Max Life Insurance Company
   D) Sahara Life Insurance Company
   
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   Option A
   Explanation: It is a joint venture between Dutch Aegon N.V. and The Times Group
9. Name the Indian insurance company which is the largest shareholder of the Infrastructure Leasing & Financial Services Limited (IL&FS)
   A) New India Assurance Company Limited
   B) Export Credit Guarantee Corporation of India
   C) Agriculture Insurance Company of India
   D) Life Insurance Corporation of India
   
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   Option D
   
10. Who is the Chairman of the committee formed by IRDAI to identify the Systemically Important Insurers (SIIs)?
    A) Pradip Biswas
    B) M.R. Kumar
    C) Pravin Kutumbe
    D) Hemant Bhargava
    
    View answer

    Option C
    

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